Silver H4 | Approaching resistanceSilver (XAG/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 27.63 which is a pullback resistance.
Stop loss is at 28.30 which is a level that sits above the 127.2% Fibonacci extension level and a pullback resistance.
Take profit is at 26.83 which is an overlap support.
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Silver
Silver MatrixSilver has been in a downward pointing "shape" with a resistance on the top as a force pointing down, while being supported in a "cup" shaped support that can become resistance on the up if it is broken down.
The levels in this project are potential support/resistance zones in the future, where potential pivot points can occur (marked examples in the past). Similar candlestick patterns can also appear near the Big Thick rectangles which are Power Influence Zones, while the slim longer rectangles can direct potential pivot points or temporary consolidation support resistance levels. The smaller rectangles could turn out to be simple milestones in the path of the price.
The most important aspect of this project and approach is following the price action near the shapes which can trigger a pivot point signal or a continuation after a break and test.
Strifor || SILVER-07/05/2024Preferred direction: BUY
Comment: As noted at the beginning of the week, the prospects for metals are quite vague, but it is still possible to make more assumptions about growth. The nearest serious resistance level is located at 28.69664 , where growth is considered.
Both scenarios are depicted in the graph. Scenario №1 is the most likely, and here it is better to enter after breaking through the level of 27.50 , which is local resistance. Scenario №2 assumes growth from the level of 26.50 . It should be noted that scenario №2 is less desirable since the probability of falling below 26 increases.
Additional comments on this trade will be provided as situation changes. Follow us!
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SILVER Is Going Down! Short!
Here is our detailed technical review for SILVER.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 27.564.
Taking into consideration the structure & trend analysis, I believe that the market will reach 27.047 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Silver will fall 10% - AGQ will fall 20% for retracementA 70% chance that silver provides a retracement next week, as the attacks on Israel by Iran are not coming out - and the West is getting desperate (I smell a false flag if Iran doesn't bite).
Asia (ChIndia - China & India) are hodling silver and gold and will provide the impetus for the forward price of precious metals.
TTM squeezes normally see price bounce off the opposite end as a fakeout before its continuation. I see that on multiple smaller TF's and a retracement to the middle BB on higher TF's.
I see a huge boost of silver miners coming up shortly, but for now I see a consolidation happening. Options for AMEX:AGQ was .05 for $36 June, so I see this going up to $1 or 20x if all goes as planned.
Then time to reload for metals blasting off!
SILVER SHORT FROM RESISTANCE
Hello,Friends!
Bearish trend on SILVER, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 25.890.
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Silver May Resume Its UptrendSilver may resume its uptrend after recent corrective decline from technical point of view and by Elliott wave theory.
We have been talking a lot about bullish metals in the past months and they may easily stay in the uptrend, especially now when bonds across the globe are recovering away from the supports.
We have seen some slow down on silver recently, but we believe it's just a corrective setback within ongoing bullish trend, as we see an unfinished five-wave bullish cycle.
If we take a look at silver from Elliott wave perspective, we can see a nice three-wave A-B-C correction, which can belong to a higher degree wave 4, so soon be aware of a bullish resumption back to highs within 5 wave.
SILVER My Opinion! BUY!
My dear friends,
Please, find my technical outlook for SILVER below:
The price is coiling around a solid key level - 26.465
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 27.488
Safe Stop Loss - 25.807
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
SILVER XAGUSD Bullish Robbery PlanMy Dear Silver Robbers / Traders,
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SILVER BULLS WILL DOMINATE THE MARKET|LONG
Hello,Friends!
We are going long on the SILVER with the target of 28.667 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band.However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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Strifor || GOLD-NFPPreferred direction: SELL
Comment: A difficult situation has developed for gold . Here, in view of technical factors, two scenarios are considered, both buy and sell. The most likely scenario №1 still assumes a fall towards the levels of 2200 and 2150 . Scenario № 2 is less likely, but it may turn out that first this particular maneuver will happen on the market, and only then will the price start to fall towards the level of 2200 . In both cases, entry points are carried out through pending orders, which are presented on the chart.
Additional comments on this trade will be provided as situation changes. Follow us!
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Be second will be more profitable - Time for SilverAfter make 29 peak, I have been thinking of short since 28.5 and take 2 short. It can be buy on 26.2 as spot. I care about the 25.5-24.5 area as pos. The last place I would try would be the 23.3. I think it will outperform gold and give better results on the rise.
Buy more silver be result